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re: Biden reportedly planning first major tax hike since 1993

Posted on 3/15/21 at 1:14 pm to
Posted by Wally Sparks
Atlanta
Member since Feb 2013
32715 posts
Posted on 3/15/21 at 1:14 pm to
quote:

government also has no board their accountable to.



It should be voters, but of course voters are fricking morons.
Posted by Palomitz
Miami
Member since Oct 2009
2699 posts
Posted on 3/15/21 at 1:14 pm to
Well, good.

I'm sure to those who voted for him support this and are enjoying America being great again lol.
Posted by LegendInMyMind
Member since Apr 2019
75080 posts
Posted on 3/15/21 at 1:16 pm to
quote:

Tell that to the last two Republican administrations.

That's why it is so weird to see Conservatives rally to the support of Trump. He is alot of things, but a fiscal Conservative ain't one of them.
This post was edited on 3/15/21 at 1:20 pm
Posted by FredBear
Georgia
Member since Aug 2017
17408 posts
Posted on 3/15/21 at 1:16 pm to
quote:

mmmmmbeeer



This guy reminds me of James Taggart of Atlas Shrugged.
Posted by Nado Jenkins83
Land of the Free
Member since Nov 2012
66072 posts
Posted on 3/15/21 at 1:16 pm to
Posted by SippyCup
Gulf Coast
Member since Sep 2008
6995 posts
Posted on 3/15/21 at 1:17 pm to
quote:

That corporate rate dropped dramatically under Trump and, despite CEO surveys indicating an impressive amount of that savings would trickle down to employees and domestic production/relocation, it never materialized. frick them. Go back to taxing them the way they were (which was higher than 28%).


So what about all those small S-Corps and Partnerships? Biden wants to eliminate the pass through advantages so now those small businesses could be paying 28%. Yeah, frick them! Right?
Posted by blueboy
Member since Apr 2006
65294 posts
Posted on 3/15/21 at 1:18 pm to
quote:

since 1993
Yeah, the guy who got elected based on the "read my lips, no new taxes" quote went on to immediately pass the largest tax hike in American history.

But Joe did say that people's taxes would go up, not down if he was elected. At least he's not quite the liar that Clinton was. Hopefully, this action has a similar effect in the mid-terms that the one in 93 did.
Posted by LegendInMyMind
Member since Apr 2019
75080 posts
Posted on 3/15/21 at 1:18 pm to
quote:

Government doesn't have a profit motive like private entities.

AND....if a private entity isn't making a profit, fricking no one is. It is the old saying, "A poor man never gave me a job."
Posted by GRTiger
On a roof eating alligator pie
Member since Dec 2008
71028 posts
Posted on 3/15/21 at 1:18 pm to
quote:

Government doesn't have a profit motive like private entities.


You think this is a good thing? As an investor in the US government, you're not concerned that it is designed to always spend more than it brings in, therefore always needing more revenue from its investors?
Posted by BayouCatFan
Member since Jul 2008
4580 posts
Posted on 3/15/21 at 1:20 pm to
quote:

It's about time the rich paid their fair share!



Actually its about time the poor paid their fair share.
Posted by LegendInMyMind
Member since Apr 2019
75080 posts
Posted on 3/15/21 at 1:21 pm to
quote:

As an investor in the US government, you're not concerned that it is designed to always spend more than it brings in, therefore always needing more revenue from its investors?

Bernie Madoff understood this concept well.
Posted by GRTiger
On a roof eating alligator pie
Member since Dec 2008
71028 posts
Posted on 3/15/21 at 1:22 pm to
At least Bernie had the decency to lie to his investors. The US gov straight up tells us how terrible they are and then writes laws to force more "investment."
Posted by Y.A. Tittle
Member since Sep 2003
110895 posts
Posted on 3/15/21 at 1:22 pm to
quote:

That's why it is so weird to see Conservatives rally to the support of Trump. He is alot of things, but a fiscal Conservative ain't one of them.


Compared to?
Posted by Stealth Matrix
29°59'55.98"N 90°05'21.85"W
Member since Aug 2019
11679 posts
Posted on 3/15/21 at 1:25 pm to
quote:

raising the income tax rate on individuals earning more than $400,000


Does this take effect before or after hyperinflation sets in?
Posted by SlidellCajun
Slidell la
Member since May 2019
16389 posts
Posted on 3/15/21 at 1:28 pm to
It’s Obama va.2

The same ole rhetoric about the wealthy paying their “fair share” as though taking money out of people’s income is fair!

Posted by Taxing Authority
Houston
Member since Feb 2010
63277 posts
Posted on 3/15/21 at 1:32 pm to
quote:

Our infrastructure fricking sucks.
How long has government been in charge of it?

quote:

Increase taxes on the wealthiest, who have been making out like bandits for the last 40 years, and invest in this country.
You do realize you could take every dolllar on income over $1 million, and it wouldnt even balance the current budget— muchless pay for any new spending, right?

quote:

I am against redistribution.
This post was edited on 3/15/21 at 1:34 pm
Posted by mmmmmbeeer
ATL
Member since Nov 2014
10189 posts
Posted on 3/15/21 at 1:33 pm to
quote:

You think this is a good thing? As an investor in the US government, you're not concerned that it is designed to always spend more than it brings in, therefore always needing more revenue from its investors?


It's exactly government's role to work without a profit motive. There are basic services, facilities, and infrastructure we expect to be provided when we pay taxes. These items are not expected to create profit or be sold to users.

Take the USPS. Last summer there was a lot of talk about how the USPS isn't profitable. It's not supposed to be profitable! It's a government service. For less than a buck I can have someone pick up a letter from the mailbox in front of my house and drop it in my aunt's mailbox in California 3 days later. I'm paying for that service not just via a postage stamp, but also by paying taxes.

Fraud, waste, and abuse are all serious issues. You'll get no argument from me on that front. But there are serious advantages to having a government entity build infrastructure without a profit motive.

Like someone above said, we're supposed to vote the people who are irresponsible with our tax dollars out of office. Instead we're arguing about Mr. Potatohead's schlong and Andrew Cuomo being a perv.
Posted by RedPop4
Santiago de Compostela
Member since Jan 2005
15291 posts
Posted on 3/15/21 at 1:34 pm to
quote:

Yeah, the guy who got elected based on the "read my lips, no new taxes" quote went on to immediately pass the largest tax hike in American history.


That was a stupid piece of rhetoric, while the Dems. (you know, the taxation lovers) in Congress made certain to put new taxes in every freaking bill they passed so he would have to break that promise by the time defense bills and other stuff came along that he would HAVE to sign. It was a classic Swamp trick.
Posted by Taxing Authority
Houston
Member since Feb 2010
63277 posts
Posted on 3/15/21 at 1:34 pm to
quote:

Take the USPS. Last summer there was a lot of talk about how the USPS isn't profitable. It's not supposed to be profitable! It's a government service.
Nope.
Posted by SPEEDY
2005 Tiger Smack Poster of the Year
Member since Dec 2003
88174 posts
Posted on 3/15/21 at 1:37 pm to
So what you want about the Dems, they are wasting no time in ramming their agenda and polices down the country’s throat.

Republicans recently controlled the house, senate, and WH for 2 years and didn’t do shite
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